WBS FY 2021 Earnings Report — Webster Financial Corporation Revenue & Financial Results | Market Cap Arena

Webster Financial CorporationWBS

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.3B	—	-1.7%
Op. Income	$534M	—	$280M	—	90.7%
Gross Margin	101.0%	—	80.7%	—	20.3pp
Net Margin	32.3%	—	17.1%	—	15.2pp
EPS (Diluted)	$4.42	—	$2.35	—	88.1%
Free Cash Flow	$672M	—	$359M	—	87.0%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	-$13M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$422M
SG&A Expenses	$434M
Other Expenses	$310M
Operating Expenses	$744M
Cost & Expenses	$731M
OPERATING INCOME	$534M
Interest Income	$943M
Interest Expense	$42M
Other Income/Expenses	$0
INCOME BEFORE TAX	$534M
Income Tax Expense	$125M
Net Income from Continuing Ops	$409M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$409M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$399M
D&A	$42M
EBIT	$534M
EBITDA	$575M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	-$13M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$422M
SG&A Expenses	$434M
Other Expenses	$310M
Operating Expenses	$744M
Cost & Expenses	$731M
OPERATING INCOME	$534M
Interest Income	$943M
Interest Expense	$42M
Other Income/Expenses	$0
INCOME BEFORE TAX	$534M
Income Tax Expense	$125M
Net Income from Continuing Ops	$409M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$409M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$399M
D&A	$42M
EBIT	$534M
EBITDA	$575M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$409M
Depreciation & Amortization	$42M
Stock-Based Compensation	$14M
Deferred Income Tax	-$5M
Other Non-Cash Items	$102M
Change in Working Capital	$128M
OPERATING CASH FLOW	$689M
Capital Expenditure	-$17M
Acquisitions (Net)	$0
Purchases of Investments	-$3.9B
Sales/Maturities of Investments	$2.2B
Other Investing Activities	-$675M
NET CASH FROM INVESTING	-$2.4B
Net Debt Issuance	-$443M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$145M
Other Financing Activities	$2.5B
NET CASH FROM FINANCING	$1.9B
FREE CASH FLOW	$672M
Net Change in Cash	$198M

Balance Sheet

Item	Amount
Cash & Equivalents	$462M
Short-Term Investments	$4.2B
Net Receivables	$621M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.3B
PP&E (Net)	$205M
Goodwill	$538M
Intangible Assets	$18M
Long-Term Investments	$27.6B
Tax Assets	$109M
Other Non-Current Assets	$1.2B
TOTAL NON-CURRENT ASSETS	$29.6B
TOTAL ASSETS	$34.9B
Account Payables	$0
Short-Term Debt	$675M
Deferred Revenue	$0
Other Current Liabilities	$29.8B
TOTAL CURRENT LIABILITIES	$30.9B
Long-Term Debt	$574M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$145M
TOTAL NON-CURRENT LIABILITIES	$551M
TOTAL LIABILITIES	$31.5B
Common Stock	$937.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$2.3B
Treasury Stock	-$127M
Accum. Other Comp. Income	-$23M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$0
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$34.9B
Total Debt	$1.4B
Net Debt	$932M